2022 Q4 Form 10-Q Financial Statement

#000165495422014488 Filed on November 01, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $789.0K $922.7K $19.00K
YoY Change 5341.66% 4756.41% -42.01%
Cost Of Revenue $716.1K $812.4K $0.00
YoY Change
Gross Profit $72.90K $110.3K $19.00K
YoY Change 480.69%
Gross Profit Margin 9.24% 11.96% 100.0%
Selling, General & Admin $1.441M $905.1K $455.5K
YoY Change 147.64% 98.72% 469.31%
% of Gross Profit 1976.06% 820.32% 2397.11%
Research & Development $386.9K $118.3K $115.9K
YoY Change 267.64% 2.0% 6562.99%
% of Gross Profit 530.73% 107.18% 610.19%
Depreciation & Amortization $17.52K $650.00 $16.03K
YoY Change -41.09% -95.95%
% of Gross Profit 24.03% 0.59% 84.37%
Operating Expenses $1.827M $1.023M $571.4K
YoY Change 166.03% 79.09% 6251.57%
Operating Profit -$1.755M -$913.0K -$552.4K
YoY Change 65.28% -2424.18%
Interest Expense $65.45K $160.00 $430.00
YoY Change 20353.12% -62.79% -102.15%
% of Operating Profit
Other Income/Expense, Net -$910.00 $162.00 -$552.0K
YoY Change -375.76% -100.03% -848.25%
Pretax Income -$1.690M -$912.8K -$552.0K
YoY Change 151.57% 65.38% 359.97%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.690M -$912.8K -$552.0K
YoY Change 151.57% 65.38% -848.25%
Net Earnings / Revenue -214.19% -98.93% -2905.05%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 -$7.206K -$5.610K
COMMON SHARES
Basic Shares Outstanding 126.7M shares 126.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.991M $8.402M $6.848M
YoY Change -46.17% 22.7% 4791.13%
Cash & Equivalents $4.047M $2.408M $6.848M
Short-Term Investments $1.944M $5.994M
Other Short-Term Assets $153.5K $1.298M $40.67K
YoY Change -29.76% 3091.37% 306.7%
Inventory $1.661M
Prepaid Expenses $153.5K $1.298M $40.67K
Receivables $918.2K $35.48K $12.67K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.724M $9.865M $6.901M
YoY Change -23.14% 42.95% 3959.36%
LONG-TERM ASSETS
Property, Plant & Equipment $143.1K $124.6K $2.195K
YoY Change 14819.6% 5576.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $35.17K $20.10K
YoY Change 74.98%
Total Long-Term Assets $1.193M $1.141M $1.080M
YoY Change 12.15% 5.6%
TOTAL ASSETS
Total Short-Term Assets $8.724M $9.865M $6.901M
Total Long-Term Assets $1.193M $1.141M $1.080M
Total Assets $9.917M $11.01M $7.981M
YoY Change -20.11% 37.89% 4594.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.450M $1.044M $76.94K
YoY Change 2201.65% 1256.46% -59.51%
Accrued Expenses
YoY Change
Deferred Revenue $200.1K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.663M $1.262M $100.1K
YoY Change 1825.67% 1160.37% -47.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.663M $1.262M $100.1K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.663M $1.262M $100.1K
YoY Change 1825.67% 1160.37% -84.83%
SHAREHOLDERS EQUITY
Retained Earnings -$7.850M -$6.160M -$2.488M
YoY Change 148.42% 147.57%
Common Stock $12.67K $12.67K $12.28K
YoY Change 1.1% 3.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.254M $9.743M $7.881M
YoY Change
Total Liabilities & Shareholders Equity $9.917M $11.01M $7.981M
YoY Change -20.11% 37.89% 4594.68%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$1.690M -$912.8K -$552.0K
YoY Change 151.57% 65.38% -848.25%
Depreciation, Depletion And Amortization $17.52K $650.00 $16.03K
YoY Change -41.09% -95.95%
Cash From Operating Activities -$2.351M -$1.574M -$581.3K
YoY Change 198.57% 170.85% 626.63%
INVESTING ACTIVITIES
Capital Expenditures $71.85K -$118.4K -$1.130K
YoY Change 6258.41% 10377.88%
Acquisitions
YoY Change
Other Investing Activities $4.037M $1.000M $0.00
YoY Change 20255.82%
Cash From Investing Activities $3.965M $882.0K -$1.130K
YoY Change 18815.6% -78155.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.05K 0.000 1.135M
YoY Change -99.5% -100.0% 440.48%
NET CHANGE
Cash From Operating Activities -2.351M -1.574M -581.3K
Cash From Investing Activities 3.965M 882.0K -1.130K
Cash From Financing Activities 25.05K 0.000 1.135M
Net Change In Cash 1.639M -692.4K 552.6K
YoY Change -61.74% -225.31% 325.05%
FREE CASH FLOW
Cash From Operating Activities -$2.351M -$1.574M -$581.3K
Capital Expenditures $71.85K -$118.4K -$1.130K
Free Cash Flow -$2.423M -$1.456M -$580.2K
YoY Change 207.25% 150.97%

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dei Document Type
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10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-09-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
000-27866
dei Entity Registrant Name
EntityRegistrantName
374WATER INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
88-0271109
dei Entity Address Address Line1
EntityAddressAddressLine1
701 W Main Street
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 410
dei Entity Address City Or Town
EntityAddressCityOrTown
Durham
dei Entity Address State Or Province
EntityAddressStateOrProvince
NC
dei Entity Address Postal Zip Code
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27701
dei City Area Code
CityAreaCode
919
dei Local Phone Number
LocalPhoneNumber
888-8194
dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001
dei Trading Symbol
TradingSymbol
SCWO
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
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dei Entity Filer Category
EntityFilerCategory
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dei Entity Emerging Growth Company
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dei Entity Shell Company
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates in the accompanying financial statements include the fair value of equity-based compensation, useful lives of intangible assets, and valuation allowance against deferred tax assets.</p>
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1250000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.50
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
437500 usd
scwo Weighted Average Remaining Contractual Life Years Beginning Balance
WeightedAverageRemainingContractualLifeYearsBeginningBalance
P2Y11M15D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
0 shares
scwo Weighted Average Exercise Price Exercised
WeightedAverageExercisePriceExercised
0
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1250000 shares
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.50
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
412500 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1956165 usd
CY2021Q2 scwo Number Of Warrant Purchase
NumberOfWarrantPurchase
3783333 shares
CY2021Q2 us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
0.30
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.37
CY2021Q2 scwo Aggregate Fair Value Of Warrant
AggregateFairValueOfWarrant
1399833 usd
CY2021Q4 scwo Stock Issued Upon Warrant Exercised
StockIssuedUponWarrantExercised
3783333 shares
CY2021Q4 scwo Proceeds From Stock Issued Upon Warrants Exercised Amount
ProceedsFromStockIssuedUponWarrantsExercisedAmount
1134499 usd
CY2022Q3 scwo Warrants Outstanding Series One Shares
WarrantsOutstandingSeriesOneShares
1250000 shares
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.50
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
412500 usd
CY2022Q3 us-gaap Common Stock No Par Value
CommonStockNoParValue
2.83
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1250000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1250000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.50
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
437500 usd
scwo Weighted Average Remaining Contractual Life Years Beginning Balance
WeightedAverageRemainingContractualLifeYearsBeginningBalance
P2Y11M15D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
0 shares
scwo Weighted Average Exercise Price Exercised
WeightedAverageExercisePriceExercised
0
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1250000 shares
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.50
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
412500 usd
scwo Weighted Average Remaining Contractual Life Years Ending Balance
WeightedAverageRemainingContractualLifeYearsEndingBalance
P2Y2M15D
scwo Stock In Excess Percentage Of Outstanding Share
StockInExcessPercentageOfOutstandingShare
0.05 pure
us-gaap Related Party Costs
RelatedPartyCosts
841577 usd
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
62858 usd
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
62858 usd
CY2021Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
0 usd
CY2022Q3 scwo Deferred Revenue Percentage
DeferredRevenuePercentage
1 pure
CY2022Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
200109 usd
CY2021Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
0 usd
CY2022Q3 scwo Deferred Revenue Percentage
DeferredRevenuePercentage
1 pure

Files In Submission

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scwo-20220930_lab.xml Edgar Link unprocessable
0001654954-22-014488-index-headers.html Edgar Link pending
0001654954-22-014488-index.html Edgar Link pending
0001654954-22-014488.txt Edgar Link pending
0001654954-22-014488-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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R9.htm Edgar Link pending
report.css Edgar Link pending
scwo-20220930.xsd Edgar Link pending
scwo_10q.htm Edgar Link pending
scwo_10q_htm.xml Edgar Link completed
scwo-20220930_pre.xml Edgar Link unprocessable
Show.js Edgar Link pending
scwo-20220930_cal.xml Edgar Link unprocessable
scwo-20220930_def.xml Edgar Link unprocessable